The Presidential Committee on the Sale of Crude Oil and Refined Products has officially announced the commencement of loading petroleum products from the Dangote Refinery. In a briefing held on Friday in Abuja, Zacch Adedeji, Chairman of the Federal Inland Revenue Service (FIRS) and a key member of the committee, disclosed that the refinery will begin loading petrol on Sunday, September 15.
Adedeji further revealed that starting October 1, the Nigerian National Petroleum Company Limited (NNPCL) will supply approximately 385,000 barrels per day (kbpd) of crude oil to the Dangote Refinery. Notably, these transactions will be settled in Naira.
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“All agreements have been concluded, and I am pleased to announce that the first batch of petrol from the Dangote Refinery will be loaded on Sunday, September 15,”
Adedeji stated during the briefing.He also explained that the refinery would return the favor by supplying Premium Motor Spirit (PMS) and diesel of equal value to the local market, also to be paid in Naira. According to Adedeji, diesel will be available for sale to any interested buyers, while PMS will be exclusively sold to NNPCL, which will then distribute it to various marketers.
Furthermore, all related regulatory costs, like other transactions, will be handled in Naira.
This announcement follows a statement from Aliko Dangote, founder of the Dangote Group, last week, confirming that the refinery was ready to begin petrol production.
With the refinery gearing up for its first batch of loading, the collaboration between the NNPCL and Dangote Refinery marks a significant step in enhancing local fuel supply and reducing reliance on foreign exchange for petroleum products.
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